Offices converted into luxury housing, the example of New York
This week, I have selected 3 news items in the high-end segment.
I talk about high-end real estate in this podcast and, above all, I practice it on a daily basis. My name is Jean-Christophe DIMINO, agent at Keller Williams, and you are reading the enriched version of the last episode of Avenue Gustave V.
My selection of properties to start with
Direction New York and the So Ho district where the New York branch of Keller Williams offers a former artists' residence transformed into a boutique hotel 10 years ago. A historic red brick building dating from 1825 located at the corner of Broome and Crosby street. The owners are French. There are 7500m2, 14 rooms, a restaurant, a patio, a rooftop. Selling price: 20 million dollars
Would you rather have your feet in the water in Cap de Nice? Well, my agency Keller Williams Masséna is selling a Californian villa of 286m2 with private access to the sea. Price: 5 390 000 euros. Video below.
And then I also have what we call Off Market, goods for sale in a confidential way. For example:
Top floor in Nice with a huge terrace at 835,000 euros, or a 500m2 property near Mougins at 2,350,000 euros. This list is obviously not exhaustive.
Are you a buyer, are you a seller ? We really need to talk. Contact me ;)
High-end, even hyper-luxury real estate. Is this market segment unsinkable? I would say yes, with a few reservations, the important thing is the address, the address, the address, but to form an opinion I recommend an excellent report published in the newspaper Les Echos entitled Le Renouveau de l'immobilier de Luxe available online. The requirements of buyer clients, the most sought after cities, the types of property that are snapped up. It's pretty well done, but a print journalist, even a well-informed one, can never replace the expertise of a specialist agent working in the field. And with me you have the combo, agent and former journalist so do not hesitate to contact me directly for any personalized study. I work in Nice, the Côte d'Azur and elsewhere in the world thanks to my network of selected contacts in 55 countries, including some thirty cities in France.
Its façade undulates like a theatre curtain
I mentioned above 431 Broome Street, the famous boutique hotel in Soho New York, which is for sale at 20 million dollars.
Supply can only increase as offices are gradually converted to residential. I invite you to take a look at One Wall Street, a famous building located in the heart of Manhattan's Financial District at the corner of Broadway and Wall Street opposite Trinity Church. Its limestone facade undulates "like a theatre curtain" according to architect Ralph Walker's wish, inducted as "Architect of the Century" by the New York Times.
So One Wall Street, this 56-storey Art Deco building that rises to 200 metres was built between 1929 and 1931. It was occupied for years by the Bank of New York, and today it is under construction, no more and no less than the largest current operation to transform offices into housing. A 2.5 billion dollar project. The price of the future flats is still unknown. But we have a pretty good idea.
Let me close this podcast with an absolute dream - one more, that's what's so magical about this business. - Little Pipe Cay, a 40-hectare private island for sale in the Exumas archipelago (Bahamas), just a few miles from Miami, I've spotted for you a tropical building and four guest houses for sale for an astronomical price!